WANGANUI WOOL SALE.

Otago Witness, Issue 3854, 24 January 1928, Page 20

WANGANUI WOOL SALE.

j HIGH RANGE OF PRICES.

KEEN COMPETITION IN EVIDENCE.

WANGANUI, January 20. Wool growers have experienced several lean years, but they are pulling up a little leeway by the recent sales. After the Canterbury, Wellington, and Napier sales it was expected that good prices would be realised here and those anticipations were fully realised. With an offering of 25,000 bales before a full bench of buyers keen competition was expected, and this was fully demonstrated. When the earlier catalogues were submitted some of the prices realised were reminiscent of a first-class market. Hoggets’ wool, for instance, off bush burns, brought as high as 20Jd, while lambs wool (top price) brought 24$d. This was somewhat sensational. It is now expected that when the sale is completed over £500,000 worth of wool will have passed to new owners. The fact that Australia is so short is causing a spirited demand. The official range of prices, compared with the November sale, was as- follows: —

CANTERBURY CRAIN AND PRODUCE MARKET. CHRISTCHURCH, January 20. Millers have bought sufficient wheat for the time being, and are disposed to sit beck, and merchants who have been operating on behalf of northern mills have also reduced their activities. Most of the wheat has been bought at 5s 9d on trucks, but under the weight of farmers’ offers, which have been heavy during the week, the price has slipped back to 5b Bd. At this figure, however, growers as a rule decline to do business, and quotations at the moment may be set down at 5s BJd for nearby stations, and up to Id less for distant points. As an indication of the current demand for wheat, one farmer in a North Canterbury district who threshed the other day sold at 6s 8d on trucks to the North

isiuiiu. -Lilis is i atner un excepLioiicii price in view of the fact that within a few weeks wheat will be available from the same district at 5s 9d. The cuttiu of wheat commenced during the week in the Hawarden district, and with a continuance of the present weather it will be general within the next ten days in the northern end of the province. A large area of oats has been cut in North Canterbury, but the bulk of it is

Algerian. There is a strengthening feeling that the market for white oats this year will be much better, as there is practically no carry-over to depress the prices of the new crop. With the prospect of a resumption of trade with the Commonwealth in Algerians and A Gartons, and a reduction in the area of 70,000 acres, there is confidence that the market will show much more activity. “ Spread ” A’s are quoted at 3s 5d and B’s at 3s Id I —a disparity that can largely be attributed to the prospect of an Australian demand for milling oats. Prompt B’s have been bought at 3s 3d, but they are not easy to pick up. Some inquiry has set in from the North Island for seeds, principally perennial ryegrass and cocksfoot. Some heavy-weight ryegrass has been sold during the week at 4s 9d to ss, f.0.b., s.i., a bushel. Italian ryegrass is exciting no interestwhatever. There was a very heavy crop last year, a good deal of which has not

yet gone into use, and this will affect the market for the new crop. Standard cocksfoot has been sold at Is per lb. The Akaroa harvest will be late, but it is fairly certain that much improved prices on last year will rule. The compulsory staining of Danish cocksfoot entering the country apart altogether from the fact that there has been a bad season in England and the Continent will restrict, if not altogether prevent export, and will be reflected in a sounder market for the local product when it comes forward. The past season’s crop has been practically all absorbed. The pea market is still weakening, and business was done to-day at 6s 6d a bushel. The Home market is weak. The potato market is still being stimulated by inquiries from Auckland, and £4 on trucks has been paid during the week for this delivery. Forward operators had such a sorry experience last season that Speculation in futures is practically nil. April deliveries are nominally quoted at £3 10s, and April-May-June at £3 7s 6d, f.0.b., s.i. Crops are looking well. Onions are firm at £4 15s on trucks. Some inquiry has been received from the north for quantities that suggest the possibility of export.

Nov. 22. Jan. 20. Fine crossbred — Super 17d to 19Jd 20d to 21id Average 15d to 17d 17d to I9id Inferior 13d to 14Jd 15jd to ICid Medium crossbredSuper 16d to 17d 17Jd to 181d Average 14d to 16d 16d to 17d Inferior 12d to 13Jd 14Ad to laid Coarse crossbred — Super 13|d to laid 15d to 18d Average 113d to 13Jd 14d to 15*d Inferior 10a to 12d 13Ad to 14d Low crossbred — Super 13d to 13Jd 14|d to 15d Average Hid to 13d; 14d to 14id Inferior 9d to iiid 12Jd to 13A'd Hoggets— Super 16d to 191d 19d to 201d Fine 15d to 18Jd 16id to 18id Medium I41d to IGld 15id to 16Jd Coarse 13|d to 15d 14id to 15d Low 12d to 13Jd 131d to 14d Lambs— Down — 22d to 24Jd Fine —— 22d to 24*d Medium —— 17d to 21d Seedy and Inferor 13d to 15id Bellies and PiecesCrossbred, good to Super 13d to 15id 12Jd to 14id Crossbred, Low to Medium 8d to 12id 8d to 12d Cr etchings—• Medium to Good 9d to lOJd 9d to 10id Inferior to ■ Seedy 6d to 8id Cxi to 81d Locks — Crossbred 5d to (id 6d to 7*d